IMMO HOLD: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
IMMO HOLD
NACE 68.310, Real estate agency activities
fiscal year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€409,515
2024 · €1.3m-€1.7m
Equity
€1.6m
2024 · €2.1m-€409,544
Cash
€330,010
2024 · €870,591-€540,581
Balance sheet total
€4.3m
2024 · €4.6m-€381,295
Largest movements
Assets
- Financial fixed assets +€944,313
up €944,313 (+311.9%), from €302,793 to €1.2m
- Tangible fixed assets -€762,309
down €762,309 (-22.8%), from €3.3m to €2.6m
of which Land and buildings: -€942,977
- Cash -€540,581
down €540,581 (-62.1%), from €870,591 to €330,010
mainly Net result for the year (-€409,515) and Investment in fixed assets (net) (-€344,196)
Equity and liabilities
- Profit (loss) carried forward -€397,407
down €397,407 (-26.0%), from €1.5m to €1.1m
- Other debts +€251,933
up €251,933 (+85.7%), from €293,805 to €545,738
- Debts after one year -€238,980
down €238,980 (-13.0%), from €1.8m to €1.6m
of which Financial debts: -€237,880
Income statement
- Financial income -€1.6m
down €1.6m (-97.8%), from €1.7m to €37,155
of which Non-recurring financial income: -€1.7m
- Turnover -€780,562
no longer reported in 2025 (was €780,562)
- Financial charges -€450,630
down €450,630 (-86.4%), from €521,272 to €70,642
of which Non-recurring financial charges: -€436,163
- Services and other goods -€251,615
no longer reported in 2025 (was €251,615)
- Gross operating margin +€164,214
new in 2025: €164,214
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
€1.3m
Turnover
-€780,562
Services and other goods
+€251,615
Staff costs
-€86,956
Depreciation
+€125,613
Other operating charges
-€3,224
Other operating items
+€112,852
Financial income
-€1.6m
Financial charges
+€450,630
Taxes
-€121,434
Result 2025
-€409,515
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€16,858
Investment
-€344,196
Financing
-€213,243
Cash 2024
€870,591
From operations (derived)
+€16,858
Net result for the year
-€409,515
Depreciation
+€162,192
Receivables within one year
+€22,184
Smaller working-capital items
+€488
Provisions
-€8,073
Trade debts
-€2,351
Other debts
+€251,933
Investment (derived)
-€344,196
Investment in fixed assets (net)
-€344,196
Financing
-€213,243
Debts after one year
-€238,980
Current portion of long-term debt
+€22,865
Short-term financial debts
+€2,901
Contributions, distributions and other
-€29
Cash 2025
€330,010
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €4,636,217 | €4,254,922 | -€381,295 | -8.2% |
| Fixed assets | 21/28 | €3,652,481 | €3,834,485 | +€182,004 | +5.0% |
| Tangible fixed assets | 22/27 | €3,349,688 | €2,587,379 | -€762,309 | -22.8% |
| Land and buildings | 22 | €3,139,551 | €2,196,574 | -€942,977 | -30.0% |
| Furniture and vehicles | 24 | €210,137 | €390,805 | +€180,668 | +86.0% |
| Financial fixed assets | 28 | €302,793 | €1,247,106 | +€944,313 | +311.9% |
| Companies linked by participating interests | 282/3 | €302,793 | - | -€302,793 | |
| Participating interests | 282 | €302,793 | - | -€302,793 | |
| Current assets | 29/58 | €983,736 | €420,437 | -€563,299 | -57.3% |
| Amounts receivable within one year | 40/41 | €112,278 | €90,094 | -€22,184 | -19.8% |
| Trade receivables | 40 | €3,713 | €1,582 | -€2,131 | -57.4% |
| Other amounts receivable | 41 | €108,565 | €88,512 | -€20,053 | -18.5% |
| Cash at bank and in hand | 54/58 | €870,591 | €330,010 | -€540,581 | -62.1% |
| Deferred charges and accrued income | 490/1 | €867 | €333 | -€534 | -61.6% |
| Total equity and liabilities | 10/49 | €4,636,217 | €4,254,922 | -€381,295 | -8.2% |
| Equity | 10/15 | €2,057,158 | €1,647,614 | -€409,544 | -19.9% |
| Contributions | 10/11 | €240,000 | €240,000 | = | 0.0% |
| Capital | 10 | €240,000 | €240,000 | = | 0.0% |
| Issued capital | 100 | €240,000 | €240,000 | = | 0.0% |
| Reserves | 13 | €290,775 | €278,638 | -€12,137 | -4.2% |
| Non-distributable reserves | 130/1 | €66,698 | €66,669 | -€29 | 0.0% |
| Legal reserve | 130 | €66,669 | €66,669 | = | 0.0% |
| Other | 1319 | €29 | - | -€29 | |
| Tax-exempt reserves | 132 | €224,077 | €211,969 | -€12,108 | -5.4% |
| Profit (loss) carried forward | 14 | €1,526,383 | €1,128,976 | -€397,407 | -26.0% |
| Provisions and deferred taxes | 16 | €97,911 | €89,838 | -€8,073 | -8.2% |
| Deferred taxes | 168 | €97,911 | €89,838 | -€8,073 | -8.2% |
| Amounts payable | 17/49 | €2,481,148 | €2,517,470 | +€36,322 | +1.5% |
| Amounts payable after more than one year | 17 | €1,840,717 | €1,601,737 | -€238,980 | -13.0% |
| Financial debts | 170/4 | €1,839,617 | €1,601,737 | -€237,880 | -12.9% |
| Subordinated loans | 170 | €93,147 | - | -€93,147 | |
| Credit institutions | 173 | €1,746,470 | - | -€1.7m | |
| Other amounts payable | 178/9 | €1,100 | - | -€1,100 | |
| Amounts payable within one year | 42/48 | €640,431 | €915,733 | +€275,302 | +43.0% |
| Current portion of amounts payable after more than one year | 42 | €205,837 | €228,702 | +€22,865 | +11.1% |
| Financial debts | 43 | €28,426 | €31,327 | +€2,901 | +10.2% |
| Credit institutions | 430/8 | €28,426 | €31,327 | +€2,901 | +10.2% |
| Trade debts | 44 | €103,714 | €101,363 | -€2,351 | -2.3% |
| Suppliers | 440/4 | €103,714 | €101,363 | -€2,351 | -2.3% |
| Taxes, remuneration and social security | 45 | €8,649 | €8,603 | -€46 | -0.5% |
| Taxes | 450/3 | €6,580 | €8,603 | +€2,023 | +30.7% |
| Remuneration and social security | 454/9 | €2,069 | - | -€2,069 | |
| Other amounts payable | 47/48 | €293,805 | €545,738 | +€251,933 | +85.7% |
| Operating income | 70/76A | €807,572 | - | -€807,572 | |
| Turnover | 70 | €780,562 | - | -€780,562 | |
| Own construction capitalised | 72 | €27,010 | - | -€27,010 | |
| Non-recurring operating income | 76A | - | €16,124 | +€16,124 | |
| Operating charges | 60/66A | €574,747 | - | -€574,747 | |
| Services and other goods | 61 | €251,615 | - | -€251,615 | |
| Remuneration, social security and pensions | 62 | €22,311 | €109,267 | +€86,956 | +389.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €287,805 | €162,192 | -€125,613 | -43.6% |
| Other operating charges | 640/8 | €13,016 | €16,240 | +€3,224 | +24.8% |
| Non-recurring operating charges | 66A | - | €24,352 | +€24,352 | |
| Gross operating margin | 9900 | - | €164,214 | +€164,214 | |
| Operating profit (loss) | 9901 | €232,825 | -€147,837 | -€380,662 | |
| Financial income | 75/76B | €1,681,326 | €37,155 | -€1.6m | -97.8% |
| Recurring financial income | 75 | €12,513 | €37,155 | +€24,642 | +196.9% |
| Income from financial fixed assets | 750 | €12,513 | - | -€12,513 | |
| Non-recurring financial income | 76B | €1,668,813 | - | -€1.7m | |
| Financial charges | 65/66B | €521,272 | €70,642 | -€450,630 | -86.4% |
| Recurring financial charges | 65 | €85,109 | €70,642 | -€14,467 | -17.0% |
| Debt charges | 650 | €85,109 | - | -€85,109 | |
| Non-recurring financial charges | 66B | €436,163 | - | -€436,163 | |
| Profit (loss) for the period before taxes | 9903 | €1,392,879 | -€181,324 | -€1.6m | |
| Transfer from deferred taxes | 780 | €8,072 | €8,072 | = | 0.0% |
| Income taxes | 67/77 | €114,829 | €236,263 | +€121,434 | +105.8% |
| Taxes | 670/3 | €114,829 | - | -€114,829 | |
| Profit (loss) for the period | 9904 | €1,286,122 | -€409,515 | -€1.7m | |
| Transfer from tax-exempt reserves | 789 | €12,109 | €12,109 | = | 0.0% |
| Profit (loss) for the period to be appropriated | 9905 | €1,298,231 | -€397,406 | -€1.7m |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 3 October 2026 via checked.be.